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Keeping up with Trump's Tariffs - (Part 2: Jul-Dec 2025). Updated on 24.09.2025

Updated: Sep 24

US Liberation Day - 2nd April 2025 US Reciprocal Tariffs Announced
US Liberation Day - 2nd April 2025 US Reciprocal Tariffs Announced

JULY

  • 2nd July - US strikes deal with Vietnam. New deal has US imposing reciprocal tariffs at 20% instead of the original 46% announced months ago. In return, US goods will be able to enter the Vietnamese market at 0% tariffs. The deal also addresses 'trans-shipping' whereby goods from 3rd countries (notably China) are routed through Vietnam to bypass tariffs.

  • 3rd July - Reuters reported that the United States has lifted restrictions on exports to China for chip design software developers and ethane producers, a further sign of de-escalating U.S.-Sino trade tensions. including concessions from Beijing over rare earths

  • 7th July - Tariffs Pause Extended to August 1. The 90-day tariff pause (originally set to end 9th July) has been extended to August 1 via executive order announced on the 7th Jul. Treasury Secretary Scott Bessent confirmed the pause and warned tariffs would snap back automatically on 1st August if no bilateral trade deals are finalised. The letters were sent to U.S largest trading partners and other markets, offering each country a bilateral negotiation window to avoid full tariff reinstatement, and threatening tariffs between 25% to 40%. The countries who received the letters include:

    • Japan

    • South Korea

    • Brazil

    • India

    • European Union

    • China

    • South Africa

    • Myanmar

    • Malaysia

    • Kazakhstan

  • 9th July - Trump sets 50% US Tariffs on Cooper imports, coming into effect from 1st August 2025, once again citing national-security interests tied to AI Data centre infrastructure and defence supply chains. Cooper prices spike - some by 17% - as markets reacted to the announcement.

  • 9th July - Trump also announces a 50% tariff spike from 10% for all goods imported from Brazil, which is being seen as a political backlash linked to the Bolsonaro trial.

  • 9th July - Trump also has floated the idea of up to 200% tariffs on imported pharmaceuticals with an implementation delay of 18 months to allow domestic producers to scale up.

  • 10th July - Trump announced 35% tariffs on Imports from Canada starting on 1st Aug 2025, blanket levies may exceed 10%.

  • 11th July - Trump announced EU imports could face a 30% tariff on most EU goods by 1st Aug 2025, if as deal is not agreed. EU has delayed retaliatory tariffs until early August in a bid to secure a deal. If a deal isn't agreed, there could be some backlash for UK Traders with close supply chains with EU and US.

  • 14th July - EU has formally extended its suspension of retaliatory tariffs on selected US goods until 6th August 2025, following the 11th July announcement by Trump on the possibility to apply 30% tariffs on EU goods from 1st Aug. Read more at the EU official journal

  • 27th July - A Trade Agreement with the EU announced, that will cut tariff rates down to 15% on imports from the Trade-Bloc, whilst US exports will be tariff-free. It has been confirmed that it will be 15% tariff across the board.


AUGUST

  • 1st August - President Trump’s sweeping “reciprocal trade” policy is in full effect. More than 90 countries have been affected, Canada suffering a "disappointing" 35% tariff, up from 25%, however luckily most goods are exempt under previous agreement. Brazil faces a % levy, but Mexico tariffs have been paused for another 90 days, despite Trump saying 'no more extensions'. The “de minimis” rule is gone meaning everyday low-value imports (like fashion & electronics) are now fully taxed.

  • 7th August - New sweeping tariffs are in full affect as of today. More than 90 countries impacted by the tariffs are being charged as of today. Negotiating has ended and there will be no further talks.

  • 27th August - President Donald Trump has doubled tariffs on imports from India. It comes after tariffs were already sky rocketing at 25%, but due to India's purchasing of Russian Oil, President Trump added another whopping 25% taking the total to 50%. This takes India's tariffs to levels as high as Brazil and China and varies on goods such as garments, gems and jewellery, footwear, sporting goods, furniture and chemicals.

  • 29th August - Removal of the de minimis exemption.


SEPTEMBER

  • 4th September - An executive order for the new U.S.–Japan Trade Agreement imposes a 15% baseline reciprocal tariff on Japanese-origin goods, only when the applicable Harmonized Tariff Schedule of the United States (HTSUS) Column 1 duty rate is below 15%. Goods already subject to a duty rate of 15% or higher will not be subject to additional tariffs under this agreement.

  • 16th September - Under the U.S.-Japan deal, Japan’s autos, parts, and certain goods begin subject to a 15% duty ceiling; aircraft & parts exemptions also take effect

  • 17th September - Effective today, the confirmed 25% ad valorem tariff on goods from India, (with transitional treatment for goods already in transit) as part of its reciprocal tariff regime.


OCTOBER

Goods in transit (loaded prior to 7th August 2025) that enter the U.S. on 5th October may still qualify only for the old 10% reciprocal tariff (rather than the new rates).


NOVEMBER

  • 22 November – deadline for report on copper tariffs to go to President.


FURTHER INFORMATION AND RESOURCES FOR TRADERS


Sources: The White House, US International Trade Administration & Customs, Border Protection, UK Gov /Department for Business and Trade, Reuters, The Times, Bloomberg, The Financial Times, New York Post, Sky News, The Guardian, British Chambers of Commerce, Business Insider, Newsweek, Politico, Market Watch, Reed Smith, DOJO Consulting Group, EU official Journal.









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